Renewable Energy: Set Our Economy Free!
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Transcript of Renewable Energy: Set Our Economy Free!
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North Korea: Every day is Earth Day!
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Which Would You Choose?
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Electricity Prices by State
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What Are the Costs of Competing Power Sources?Source: Gilbert Metcalf, Professor of Economics, Tufts University (2007)
Levelized production costs per kWh in tax regime providing no investment preferences:Coal: 3.79Clean coal: 4.37(+ 15 %)Natural gas: 5.61(+48 %)Nuclear: 5.94(+57 %)Wind: 6.64(+75 %)Solar thermal: 18.82 (+570 %)Solar photovoltaic: 37.39 (+887 %)
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Levelized Electricity Costs: 2016Source: U.S. Energy Information Administration
Levelized production costs per mWh in tax regime providing no investment preferences:Natural gas: 63.1Natural gas (with CCS) 89.3 (+42%)Coal: 94.8 (+ 50 %)Clean coal (with CCS): 136.2(+116 %)Nuclear: 113.9(+81%)Onshore Wind: 145.5 (+131%) 23%
capacityOffshore Wind: 361.8(+474%) 23% capacitySolar thermal: 311.8 (+394 %)Solar photovoltaic: 210.7(+234 %)
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Federal Electricity Subsidies Source: U.S. Energy Information Administration
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Will Kansas Politicians Ever Learn?Year Renewables KS Price US Price
2009 2.8 mWh 7.98 c/kWh 9.82
2010 3.4 mWh 8.35 9.83
2011 3.7 mWh 9.90
2012 DOUBLE 9.24 9.93
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State-by-State Comparison
State Price % Ren KS SavingsPer KS Hs
KS 9.24 7 - -MO 8.54 1 $280 mil. $250NE 8.39 1 $340 mil. $300OK 7.52 1 $690 mil. $600
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But What about Green Jobs?
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Spain Economy
Beginning in 2005, when unemployment in Spain was 8.7 percent, Spain embarked on a renewable energy program designed to transform the nation’s economy. Economics professors at Spain’s King Juan Carlos University published a 2009 study showing that for every 1 “green” job created, 2.2 jobs were destroyed elsewhere in the economy. Spain’s unemployment rate has approximately tripled since Spain’s renewable energy program took effect, and now stands at 26%.
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Spain Economy
In February 2012 Spain’s government announced that it can no longer afford to subsidize renewable power and is halting all subsidies.
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UK Economy
A 2011 study by Verso Economics found that renewable energy mandates in the UK killed 3.7 jobs for every 1 job created.
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Compare to Oil and Gas Production
Shale oil finds in North Dakota (under private lands) are fueling a oil boom in the state. North Dakota’s unemployment rate is 3%.
Texas leads the nation in oil and natural gas production. More than 40% of the nation’s job creation during the recent recession occurred in Texas.
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Is China Really Eating Our Lunch?
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What About Pollution?
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4. Cutting U.S. Emissions Would Make Little Difference(In Million Metric Tons) Source: U.S. Energy Information Administration
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Wind Power
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Wind Power ImpactsIntermittent and unpredictable
Land intensive - 600 sq. mi. = 1 conventional
plant
Bird kills (440,000/yr), bat kills, crops
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Solar Power
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Solar Power Facts and ImpactsIntermittent
Land intensive – 40 sq. mi. = 1 conventional
plant
Water intensive – 2x coal, 4x natural gas
Most economical where water is scarce
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Environmental Priorities Are Determined by Subjective Preferences
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Thank You, Any Questions?
James M. Taylor
Senior Fellow, Environment Policy The Heartland Institute [email protected]